218 E Arctic Folly Beach, 29439, Charleston Real Estate

218 E Arctic Folly Beach, 29439 6266sq.ft.

$4,199,000

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Incredible opportunity to own an 11 unit multi-family directly across the street from oceanfront Folly, two blocks from Center St. Folly pier. Block to block property with ample parking for all units. Up and down duplex fronting Arctic, with amazing 3rd. floor addition to 2nd. floor unit. Open loft addition includes kitchen and bath, with Interior and exterior staircase that allows for separate lockoff rental opportunity. Numerous decks and outdoor spaces on every floor, including a crows nest deck with fabulous view of the Atlantic. Separate Grandfathered status, legal non-conforming 9 unit, former motel building. Fronts on E. Ashley and contains a combination of five efficiencies and four 1 BR apartments. Currently 10 units on property are longterm rentals (30 days or more), on month-to-month leases. Two-story 2nd. and 3rd. floor combination unit is owner-occupied. Small office in motel building.Shed with shared washer/dryer and outdoor shower.Drone photos coming soon! Duplex ground floor unit has 2 BR, 1 bath. Duplex second/third floor unit has 3 BR, 2 bath, 2 kit., for possible lock-off rental. Separate apt building has five studios, and four 1 BR, 1 bath units. All rents are vastly under current market for this location. Huge upside potential. All leases are month-to-month.